The course provides extensive training in forecasting and modelling techniques, with a wide range of applications in business, finance and the national economy. In addition, it equips its graduates with the ability to identify forecasting methods and appreciate their limitations and to present their forecasting reports. The use of appropriate computer software is emphasised throughout and hands-on experience is an integral part of the programme.

Forecasting plays an important role in decision-making in industry, financial services, commerce and government. In an uncertain environment the success of a business or economic policy depends on the ability of managers to foresee and prepare for the future.

This innovative course is intended for those keen to advance their careers as economic/business modellers and forecasters in industry, financial services, consultancies or government; and those whose careers in related areas would benefit from training in modelling and forecasting methods.

Content

This is a modular programme based on credit accumulation. The MSc consists of eight modules plus a dissertation.

FOUNDATION
This module provides the mathematical and statistical underpinnings to the econometrics and time series modules.

ECONOMETRICS
This module deals with the multiple linear regression model and explores its range of applicability as a modelling framework. It also assesses the extent to which econometric methods are useful in forecasting.

TIME SERIES METHODS
This module is an introduction to the range of techniques employed to produce forecasts from time series data. The empirical work performed in this module will lead to the production of a time series analysis and forecast as a professional report and prepare students to conduct future research.

COMPUTING
This module famliarises students with the ICT packages that are used in subsequent modules to support report writing and analysis. It also shows how standard software packages can be enhanced by writing dedicated additional programmes.

BUSINESS FORECASTING
This is a module which explores the wide range of approaches to forecasting in the business environment. It deals with subjective approaches as well as extensions to the econometric methods covered earlier and seeks to broaden the range of options open to business forecasters.

MACROECONOMIC MODELLING AND FORECASTING
Business forecasting takes place in the context of a specific macroeconomic climate. This module explores how the macroeconomic climate affects business and analyses the strengths and weaknesses of macroeconomic forecasts.

BUSINESS FORECASTING WORKSHOP
This provides an opportunity to develop the techniques studied in the Business Forecasting module and to practice the research skills required in writing a professional report and the dissertation.

MACROECONOMIC MODELLING AND FORECASTING WORKSHOP
This module provides the opportunity to practice the techniques employed in producing macroeconomic forecasts and writing professional forecasting reports.

DISSERTATION (about 10,000 words)
Produced in consultation with a supervisor on a topic chosen by the student and written over a 12 week period. Students who are working can use their own professional circumstances as research material, in consultation with their employers. The dissertation is often used by graduates of the degree, to demonstrate their professional development to future employers

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